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We have selected 10 questions from previous years’ IAS Papers for the revision purpose of the ECONOMY section. Solve these questions to check the level of questions being asked in the IAS Exam and also your preparation level.

1. Consider the following statements:-

1. The reserve bank of India manages and services Government of India Securities but not any State Government Securities.

2. Treasury Bills are issued by the government of India and there are not Treasury bills issued by the state government.

3. Treasury bills offer are issued at a discount from the par value.

Which of the statements given above are correct?

(a) 1 and 2 Only           (b) 3 Only
(c) 2 and 3 Only           (d) 1, 2 and 3

 


2. With reference to the governance of public sector banking in India, consider the following statements:-

1. Capital infusion into the public sector banks by the Government of India has steadily increased in the last decade.

2. To put the public sector banks in order to the merger of associate banks with the parent state bank of India has been affected.

Which of the statements given above are correct?
(a) only 1                   (b) 2 only
(c) Both 1 and 2       (d) Neither 1 nor 2


3. Which one of the following links all the ATM’s in India.

(a) Indian Banks Association

(b) National Securities Depository Limited

(c) National Payments Corporation Limited

(d) Reserve Bank of India

 

4. With reference to digital payments, Consider the following statements-

1. BHIM app allow the user to transfer money to anyone with a UPI-enabled bank account.

2. While a chip-pin debit card has four factors of authentication, BHIM app has only two factors of Authentication.

Which of the statements given above are correct?

(a) only 1                    (b) 2 only
(c) Both 1 and 2        (d) Neither 1 nor 2


5. What is the purpose of setting up of Small Finance Banks in India?

1. To supply credit to small business units.

2. To supply credit to small marginal farmers.

3. To supply credit to small marginal farmers.

Which of the statements given above are correct?

(a) only 1 & 3                        (b) 2 & 3 only
(c) Both 1 and 2                   (d) 1, 2 and 3

6. Which of the following is the most likely consequence of implementing the Unified Payment Interface (UPI)?

(a) Mobile wallets will not be necessary for online payments.

(b) Digital currency will totally replace physical currency in about two decades.

(c) FDI inflows will drastically increase.

(d) Direct transfer of subsidies to poor people will become very effective.

7. Consider the following statements:

1. National Payments Corporation of India helps in promoting financial inclusion in the country.
2. NPCI has launched Rupay, a card payment scheme.

Which of the following statement given above is correct?

(a) Only 1                     (b) Only 2
(c) Both 1 and 2          (d) Neither 1 nor 2

8. The establishment of ‘Payment Banks’ is being allowed in India to promote financial inclusion. Which of the following statement are correct in this context.

1. Mobile telephone companies and supermarkets that are owned and controlled by residents are eligible to promote payments banks.

2. Payments banks can issue both credit cards and debit cards.

3. Payments Banks cannot undertake lending activities.

Which of the following statement given above is correct?

(a) 1 and 2 only (b) 1 and 3 only
(c) 2 only (d) 1, 2 and 3

9. The term ” Core Banking System” is sometimes sun in the news. Which of the following statements best describe this term?

1. It is a network of bank branches that enables customers to operate their accounts from any location irrespective of their account branch.

2. It is an effort to increase RBI’s control over commercial banks through computerization.

3. It is a detailed procedure by which a bank with huge non-performing assets is taken over by another bank.

Select the correct answer using the codes given below:-

(a) only 1                           (b) 2 and 3 only
(c) 1 and 3 only                (d) 1, 2 and 3

10. What is the purposes of the Governments’ Sovereign Gold Bond Scheme and Gold Monetisation scheme’?

1. To bring the idle gold lying with Indian household into the economy.

2. To promote FDI in the gold and jewelry sector

3. To reduce India’s dependence on gold imports.

Select the correct answer using the code given below:-

(a) only 1                           (b) 2 and 3 only
(c) 1 and 3 only                (d) 1, 2 and 3

Solve these Questions and Comment your answers in the Comment Section.

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